DETROIT, MI - Quicken Loans founder Dan Gilbert has all but secured control of Greektown Casino and Hotel, after an acquisition agreement with the property’s owner was signed Monday.

Greektown Superholdings has entered into a definitive Stockholders Agreement with Athens Acquisition LLC, an entity owned by Gilbert.

The agreement was approved unanimously by Greektown’s Board of Directors on Monday, after a special committee the group assigned in January to study the offer had unanimously recommended the sale.

The final sale needs approval from the Michigan Gaming Control Board.

Along with the pending purchase, Athens Acquisition has agreed to a Stockholders Agreement, which will offer minority, non-Athens shareholders two opportunities to liquidate their stock at $90 per share, among other protections.

“We really believe you can open that casino up,” Cullen said at the Detroit Policy Conference. “It’s a great district. We think you can open it up and tie it into Greektown.”

Gilbert also launched Rock Gaming in 2010 to develop casinos in Cleveland and Cincinnati. It partnered with Caesars Entertainment to open Horseshoe Casino Cleveland in May 2012. Horseshoe Casino Cincinnati opened in March.

The company said it has no plans to partner with Caesars Entertainment at Greektown Casino-Hotel.

“Our plans are in the early phases, however, we envision significant investment in the Greektown Casino-Hotel, as well as the enhancement and growth of the existing entertainment district,” Gilbert said of Greektown Casino-Hotel in a release earlier this year. “We see this unique area extending to Campus Martius and along Woodward Avenue building on the positive momentum already occurring in the heart of downtown Detroit.”